Kari Rollins, New York office co-managing partner, in her new office in the renovated Sheppard Mullin office. Photo: Ryland West/ALM These Am Law 100 Law Firms Are Expanding Their New York Footprints
As big leases come up for renewal, firms with New York offices now have competitive offers from current and potential landlords. Some are staying put.
October 07, 2024 at 04:12 PM
5 minute read
What You Need to Know
- Despite the trend toward relocation and downsizing, Sheppard Mullin and Haynes and Boone are staying put and expanding in their spaces at 30 Rockefeller Plaza.
- The firms were motivated to stay and expand their current leases. They also cited landlord incentives and avoiding the disruption of an office move.
- The firms' office planning underlines the calculus for firm leaders as big leases come up for renewal and as firms have competitive offers from landlords.
While most big firms in New York have been choosing to relocate offices when their leases were up, some Am Law 100 firms are staying put, motivated by landlord concession and opportunities to grow in their current lease.
For instance, Sheppard Mullin and Haynes and Boone both decided this year to renew their New York office leases at 30 Rockefeller Plaza and increase their spaces, after growing head count in Manhattan over the years. Firm leaders said in interviews that keeping their spaces was important to their culture — not to mention the financial incentives from the landlord and avoiding a "disruption" in a move.
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